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Send payment and policy data directly to your carriers all from your Agency or Broker Management system.

Key ClearPay Features

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Seamless Integration to BMS

  • Ability to integrate to all major BMS’, allowing for brokers to start + finish within the BMS.

  • ClearPay runs silently in the background.

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Easy Installation

  • Easy automated wizard driven installation and set-up

  • No upfront costs

  • Local installation of connectivity tool to provide data to generate electronic payment and transmission of relevant policy data.

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Pay Electronically

  • Funds are transferred using existing banking protocols.

  • Broker authorized – payment amount and deposit date are controlled by broker

  • Only carriers or MGA’s can receive funds

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Multiple Users with Customized Authority Levels

  • Choose differing levels of authority in the brokerage – ability to view only, generate payments, or approve payments.

  • Remote approval, designated authorities in brokerage can approve payments wherever you have an internet connection – phone, tablet or computer.

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Automated reconciliation report

  • Data and funds are transmitted based upon brokerages entries into BMS.

  • Carriers receive real-time reconciliation reports in their preferred format.

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Bank Level Security

  • Funds are transferred based on established and safe banking procedures.

  • ClearPay utilizes a level of system protection on par with many international banking institutions, including 256 bit encryption and data exchanged with standard security protocols.

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Key ClearPay Benefits

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  • Reduce handling and secure storage costs associated with cheques

  • Reduce needless communication between accounting departments of brokerages and carriers

  • Reports are generated automatically with the payment approval

  • Eliminate duplicate entry

  • Automated real-time payment notifications to carriers (avoiding cancelations)

Save Time
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  • No more expensive printing costs for cheques

  • No more courier charges

  • No more chasing down signatures

  • Significantly reduce bank fees for electronic debits vs cheques

Save Money
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  • The insurance industry is a popular target by fraudsters

  • Electronic funds transfer is proven to be safe and secure

Eliminate Cheque Fraud

Eliminate Cheque Fraud

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  • Low time commitment (wizard driven set-up)

  • Support available 12 hours a day




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Broker Controls the Date and Amount of Payment

  • Know the exact date and amount that are going to be debited

Broker Controls the Date and Amount of Payment
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Instantly Have Access to Pay All your Carriers Electronically

  • No need to maintain carrier account information

  • No need to log in to bank sites to make payments

Instantly Have Access to Pay All your Carriers Electronically

How It Works

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Agencies Benefits
Agencies How It Works

ClearPay 4 Step Process

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The current process of settling monthly agency bill accounts and one-time payments (midterm policy changes, NSFs on direct bill business) is antiquated and overly complex. Carriers currently invoice amounts that may differ from that in a brokerage’s BMS, the payment process is not secure, is heavily paper based and takes away value from the operations of brokerages and carriers.

1. Submit Payment from BMS

2. Notification and approval process

3. Posted to ClearPay™, Reconciliation Report to carrier

4. Carrier Receives Payment and Account Summary

How is ClearPay different? Payments via ClearPay to the carrier are initiated by brokerages within their BMS in the same manner as is done now to issue a cheque. Payment schedule is then established by ClearPay and policy reconciliation data is remitted to the carrier. ClearPay works within Canadian Banking protocols and is compliant with all insurance regulatory authorities in transferring funds directly from the brokerage’s to the carrier’s account.

How Does ClearPay Compare?

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Cheque Based Payment

1. Brokerage reviews invoice and system

2. Brokerage issues and authorizes a cheque

3. Cheque and data reconciliation report are mailed

Phone calls/emails back and forth between brokerage and carrier on reconciling statements

1. Cheque and report received by insurance company

2. Cheque is recorded stored

3. Data reconciliation is done against report received

Cheque is deposited at bank.

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Brokerage initiates payment and data reconciliation report from their Broker Management System and ClearPay web service.

Data reconciliation report is transmitted over secure lines to insurance company.

Funds are deposited directly to insurance company's bank account on specified date.

Current Cheque Based Process:

  • Enter payment data into accounting software (BMS)

  • Print cheques

  • Print/export reconciliation data (for approval)

  • Request required approval and signatures (x2)

  • Generate outgoing envelopes

  • Send Reconciliation data to carrier

  • Call courier/put stamps and deposit at mailbox

  • Hope cheques/data make it to carrier.

ClearPay Process:

  • Enter payment data into accounting software (BMS)

  • Authorize payment which generates ClearPay automated approval notification

  • Receive automated receipt notification

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Speak to us today about a better way to pay!

During this free demo you'll discover exactly how AcordPay will benefit your agency, like speeding up receivables and saving your accounting team time.

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